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The Inside View

5 Things To Know About Investing In A Condo Now

  1. This is the best time to buy, especially for cash buyers: “Cash is king, though interest rates are low and will likely stay low in 2021.”
  2. The global unload: “Our international clients who own properties are selling now because they still can’t come to the U.S.— or because conditions are not great in their counties so they need the cash.”
  3. You can wait, but not too long: “Prices will be going down a bit more, especially in the Art Deco District of South Beach. We will have yet more inventory with good prices.”
  4. The vaccine should usher in a new world by summer: “The condo market will bounce back as soon as people feel it is safe to fly and borders are once again open.”
  5. Do your homework about the building and the area. In South Florida, a location at 1 in the afternoon can feel quite different at 1 in the morning: “I would say to drive by at different times of the day and night around the building and neighborhood. And check to see if there’s any litigation in the building. If you come across any residents in the building, ask them about their experiences.

According to Marco, selling a home that has such a layered story to tell requires a nimble touch and a tech-savvy approach, especially with open houses off the table for now. “You have to use different platforms for digital marketing, like video tours and Facetime,” Marco says. “The people who will buy this loft are the people who live in this community and are looking for a bigger space inside, and more outdoor area.”

In the case of Loft 6, a 3D tour lets tire-kickers explore at their own pace. A slickly produced video, meanwhile, shows off all its best angles, even offering dramatic aerial views that leave no doubt about the grandeur of the place and its proximity to the ocean.

It’s a long way from the twins’ childhood home in Venezuela, where they raised cattle and grew watermelons on the family farm. “We’re farm boys at heart,” Marco says. “We used to get up at 6 and work on the farm until 3 o’clock in the afternoon.”

It was all prelude for what was to come. “It was hard,” he adds with a hint of pride. “But it created in us the discipline to work.”

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